ENG-2004 — Page 267

Chapter 11

Housing

The provision of assistance to those in genuine need continues to lie at the heart of the Government's housing policy. The Government ensures that all those who cannot afford adequate accommodation in the private market have access to subsidised public rental housing. At the

end of 2004, there were 92 560 households on the waiting list for public rental housing and the average waiting time was about 1.8 years.

Hong Kong has come a long way in providing subsidised housing to those who cannot afford private housing. About 31 per cent of the population in Hong Kong now live in public rental housing (PRH) with another 18 per cent in subsidised home ownership flats. The total housing stock in Hong Kong in December amounted to 2 397 700 flats, comprising 707 600 PRH flats1, 384 600 subsidised home ownership flats and 1 305 500 flats in the private sector.

The revised estimate of public expenditure on housing in 2004-05 was $19.5 billion and reached 7.4 per cent of total public expenditure.

Housing Policy

The 2002 Statement on Housing Policy delivered by the Secretary for Housing, Planning and Lands set out three major guiding principles of the Government's housing policy:

• The focus of the Government's subsidised housing policy should be on the provision of assistance to low-income families who cannot afford private rental accommodation;

• The Government should minimise its intervention in the private property market; and

• The Government should maintain a fair and stable operating environment for the private property market by ensuring adequate land supply and provision of an efficient supporting infrastructure.

1 Including public rental housing and interim housing flats operated by the Hong Kong Housing

Authority and public rental housing flats operated by the Hong Kong Housing Society.

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